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How Should I Come off a 24 Month Credit Application Fast?

I am coming off a 48 hour fast, and man is it rough. My stomach is all jacked up because I didn’t plan and follow a reintroduction to solid food protocol. I just went to town at the buffet after not eating for two days and that was a big mistake. I should have done some much better planning on my part.

Planning is also key for breaking our Churning fast. We decided that I would be the only one in the family to be always ineligible for 5/24 Chase Cards, and my wife would not get any new cards for 24 months. I am planning on hitting every new Card the day it comes out, and I won’t add my wife as an AU to bump her out of 5/24.

Here is where she stands right now:

Chase Cards:

Marriott Rewards Premier (Bonus 24 July 2015) Must pay $85 annual fee

World of Hyatt (Bonus 03 Aug 2017) Must pay $75 fee

British Airways Avios (Opened 08 Oct 2017) MLA Waived

Ritz-Carlton Rewards (Bonus 10 Dec 2017) MLA Waived

AmEx Cards (All Fee Waived):

Amex EveryDay® Preferred (Opened 26 May 2015)

Starwood Preferred Guest Personal (Opened 28 Sep 2017)

Delta Platnum (Opened 17 Nov 2016)

Hilton Honors Ascend Card (Opened as Surpass 28 Sept 2017)

When we look at her Credit Karma report today (18 April 2018) we see the last 5 cards as:

Just curious…why would you PC her SPG to the Lux but NOT apply for the Lux instead and get the potential new sign up bonus (which mostly likely Amex will do as the Lux is a new product)?

Then I realized I was doing a Charlie Day after taking brain pills here. Just because I have this blog with its 7-8 subscribers (tops), doesn’t mean I am any sort of expert here. You, the readers, actually have a lot better ideas and datapoints. I appreciate the constructive comments that you all share on each post and hope they continue.

The name of the game is to get the sign up bonus then double dip with the product change (after getting the initial bonus). Reader Dan writes about doing this for his Surpass (turned Ascend):

hey, just fyi i was able to reopen a basic hilton card a week after closing it, once i realized i closed an opportunity for a second aspire. it actually worked out perfectly, i just chatted with them online, they approved the reopen, sent me a new card, then after receiving it i chatted again and they upgraded to aspire with original military benefits intact. so as of now i have 2 aspires and my wife has 1. i read online somewhere that you might be able to reopen an account up to 30-60 days after closing it

On top of being a pretty marginal investor, I realize now that I am not the best product changer either. In this post I am asking the group:

“What should I do when my wife becomes eligible for 5/24 Chase Cards?”

What makes this decision complicated is I want to take advantage of the 2 month delay in reporting of new AmEx cards to a credit bureau. Redditor Sir Theta says in this post:

Barclays reports by approximately the next business day.American Express reports on your second statement close. The remainder of the major US issuers (Bank of America, Chase, Citi, and US Bank, and Wells Fargo) report on your first statement close. edit: Wells Fargo reports soon after you are approved (a few business days). See u/payyoutuesday‘s comment below:

I was approved for a Wells Fargo Propel World card this month, and the new account was reported to the credit bureaus 5 days (TU, EQ) and 6 days (EX) later. I have not yet had a statement close.

On top of that, Chase sometimes allows two cards to be approved same day when you are 4/24, and Business AmEx cards don’t report to a credit bureau at all! If we want to truly utilize these loopholes we can have more cards if I wait till she hits 3/24 in July of 2019.

Starting that month she would Get the CSR and United card. When she drops back down to 4/24 again in September, she will hit up the Freedom. Come October 4/24 would be reached again and she can then get one of the Ink cards or the Marriott Plus card (then upgrading the existing Marriott to a plus). Then when she is 4/24 again in December she will hit the Southwest and the other Ink or Freedom card on the same day to cram in the last slot.

Month:

Apply For:

Jul-19

CSR

Jul-19

United

Sep-19

Freedom

Oct-19

Ink or Marriott

Dec-19

Ink or Southwest & Other Freedom

Concurrently in November She can apply for the AmEx Hilton Aspire Card and the new SPG Lux card and they would not be reported till January. I think I am going to drop off the AmEx Everyday Card When these bonuses hit for the new card, she can now PC her existing SPG and Hilton cards to their highest levels. What she will be left with is this:

Notice I didn’t open any AmEx Business cards because they would take up the precious credit card slots that are limited to only 5. I want to pack as many $450 annual fee credit cards in there. If this whole thing works out then we should get these perks paying dividends every year:

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8 thoughts on “How Should I Come off a 24 Month Credit Application Fast?”

I’ve done this with myself and my wife so far and it’s worked out great: wait for a United Explorer 70k offer and snag it, wait a year and a day and PC to the club. It maxes out the sign up bonus without burning a second 5/24 slot.

Yes I got my SCRA Personal MPE before I joined and upgraded to the Personal Club Card. I was not even aware of the business version of this product! Thanks for the tip, but keep in mind that Business Chase cards have not been getting the MLA waivers.

Ah I guess I communicated that poorly. I meant that as a general idea for someone who is still eligible to start SCRA benefits that isn’t already AD. That way it would open up another personal card slot.

For those only taking advantage of MLA and whatever cards you had before joining that are eligible for SCRA, your looks good to me!

My Ink Business Preferred does appear to count towards 5/24. Based on what I read online, I applied for a card last month, but was denied due to 5/24. I asked the Chase representative to list off all the accounts they based the decision on, and it included my Ink. As always, this appears to be YMMV.